181****9536 更新日期：2023-04-08 16:41:52
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17. Suppose the equilibrium price of oranges is $200 per pound If the actual price is above the equilibrium price a |
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shortage exists and the price
falls to restore equilibrium // shortage exists and the price rises to
restore equilibrium // surplus exists and the price falls to restore
equilibrium // surplus exists and the price rises to restore equilibrium
//surplus exists but nothing happens until either the demand or the
supply changes |
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3 |
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2. A perfectly competitive firm |
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sells a product that has perfect
substitutes // has a perfectly inelastic demand // has a perfectly
elastic supply // Answer A and answer B are correct //Answer A and
answer C are correct |
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1 |
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20. Suppose the market price of a pound of steak is $6 per pound and the equilibrium price is $9 per pound What takes place? |
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There is a shortage, so the price
falls and quantity demanded increases // There is a surplus, so the
price falls and quantity demanded increases // There is a shortage, so
the price rises and quantity demanded decreases // There is a shortage,
so the price rises and quantity demanded increases //There is a
shortage, so the price falls and quantity demanded decreases |
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3 |
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